Assays indicated thick intersections of high grade gold and some mid-range thicknesses such as 12 metres at 7.45 g/t gold and 7 metres at 5.25 g/t gold.
These assays were from the Boscalo area of the Woodlark project, only identified as a promising prospect in mid-2017 when an assay of 18 metres at 8.99 g/t gold was returned.
Management’s industry expertise and regional understanding show through
The fact that the company has been able to quickly conduct a successful exploration program in that area is a good reflection of its expertise operating in that region.
Importantly, the Boscalo results have coincided with highly promising results from drilling conducted in the better known areas of the Woodlark deposit.
Numerous thick high-grade zones have been delineated such as 41 metres at 4.5 g/t gold.
There were also extremely high-grade returns of 11 g/t gold and 9 g/t gold in relatively thick sections of 16 metres and 12 metres respectively.
Drilling program confirms historical data which indicated high grade mineralisation
Geopacific has undertaken a confirmation drilling program aimed at assessing some historic reverse circulation drill holes to ensure that they met JORC 2012 standards.
Results received to date have been better than previously indicated and are consistent with the grades and mineralisation expected.
In addition to the confirmation program, the company undertook a geological reinterpretation of more than 275,000 metres of previous drilling and re-assaying to improve the quality of its geological database.
Several upcoming catalysts
Management confirmed that the company is on track to release a resource and reserve estimate in the first quarter of 2018.